Sonae expands in Saudi Arabia through MO
today Jun 16, 2015
Portuguese retail company Sonae is strengthening the global presence of MO through its arrival in Saudi Arabia, where it will open its first two stores and where it is already present through Zippy.
The expansion extends the global presence of the fashion brand to five countries, including Spain, and represents its entry into the Middle East, where Sonae is already present through Zippy.
Sonae SR's CEO, Miguel Mota Freitas, has welcomed the entry into a new market: “MO’s arrival in Saudi Arabia is another important step as it marks the beginning of our expansion in a region where Zippy already occupies a leading position and where we believe that MO has the potential to grow, benefitting from its quality products offered at attractive prices and its adaptability to local markets.”
The entry of MO into Saudi Arabia results from a franchise agreement with Fawaz Alhokair Group, which plans to open 20 stores in the region over the next five years.
With the opening of these first two stores in Saudi Arabia, MO has expanded its global franchise network, which already extends to countries such as France, Belgium, the Czech Republic and Romania, where the brand sells its products through multibrand stores.
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